JOEL P.

DALABAJAN JR - 519172
CBM122(11937)
MODULE 1
LET’S CHECK
1. Give the different ways of measuring development, in the traditional and in a new
way.

In traditional economic measures, we consider the gross national income to

determine the growth of our income per capita which are used to measure the
overall economic well-being of a population. On the new economic view of
development are more into the actual condition of life.

2. Enumerate and expound on the core values of development.

Sustenance – able to meet and sustain basic needs in life such as food, shelter, and
clothes.
Self-esteem – able to feel worthy in the community and able to satisfy the wants and
needs.
Freedom – able to choose and express the rights
These three represent a basis to verify the development and common goals of the
people. It is the fundamental human need.

3. What will be the contribution of women to economic growth?

Many things can women contribute the economic growth same with the men. Based
on what I’ve read, women are a substantial majority of the world’s poor. Most of the
women have low incomes and limited control. If women once are drawn into the
economic mainstream and have reforms that empower women it will have an impact
on economic growth. It would have been contributing to all fields of society in some
way or the other.
LET’S ANALYZE
1. How is the difference between traditional economics and development economics?
Expound your answer.
Development economics has a greater scope in the study of how economies are
transformed from stagnation to growth and from low-income to high-income
status, and overcome problems of absolute poverty, while Traditional economics
is more concerned with maximation of profit, market efficiency, and steady
growth.
2. Will the values of the people affect the economic policies that will be crafted by the
policy decision-makers? Explain your answer
Yes absolutely, it can have various effects on how a policy will be made. It could
help set the pace of reform.
3. Discuss the common characteristics between developed and developing nations.
Both are in common modernization. They are both economic-focused, have an
issue of housing, issue of terrorism, issue of natural disasters, issue of a pandemic,
issue of pollution, and an issue of unemployment.

4. Discuss the differences between developing countries to developed nations in their

early stages of development.

The difference between developing and developed countries is that developed

country has many opportunities, such as jobs, free healthcare & education, and
many more. We expect that developed countries have a high level of per capita
income and they are way advanced and industrialized than developing countries.
Developing countries, on the other hand, they have a low per capita income and
opportunities for jobs and free programs are low compared to the developed
countries.